The advent of these unnerving physical changes is making it more and more difficult for me to deny the fact that I am not getting any younger. And I was once again reminded of them this morning when four of my co-workers threw themselves a retirement goodbye party in the office.
Yes, it is time to plan for the future, assuming that I do live beyond what I expect myself to live (because if I am to be honest, my health wasn’t in my priority until recently).
When I talked to an already retired friend to ask for some advice of what I should do, the topic of pension annuities inevitably came up. Guess what I found out? Less healthy people get higher interest / income than healthy ones. My friend told me it is because, of course, less healthy people have higher chances of not living longer, hence the possibility of the companies paying more over a longer period of time is lower compared to healthy people. Interesting. Very interesting. This is one bright side: who knew one’s smoking history could be to their advantage eventually?
As of late, I have been shopping around for the best annuity rates I could find. Another friend advised me never to approve of the first offer the pension provider offers, and so here I am, scouting the internet and periodicals of reasonable annuity offers. Oh, I am very open to suggestions.
